Live streaming movies and TV shows is commonplace in our world today. But did you know that streaming sports events is also gaining increasing popularity on OTT platforms?
Up until a few years ago major sports events were sidelined from OTT viewership, forcing fans to remain hitched to their cable subscription. Not anymore. The OTT revolution bug has bit sporting events too.
The number of households dropping cable packages is increasing by the million each year in the United States alone (source is here). So the traditional cable or satellite TV service that banded news, entertainment and sports together as a package is no longer the preferred choice in home entertainment consumption. High-speed internet connectivity, smarter gadgets and affordable subscription packages have made OTT easily accessible. And by looking at the current trends, sports coverage on OTT is a growing industry in itself.
For sports content owners, there is no better time than right now to take a piece of the OTT pie. If you are ready to transition to video streaming services, here are 5 benefits to look out for:
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Repurposing Content for Engagement
As opposed to cable, OTT sports streaming doesn’t bind itself to just a one-time watch. Through an OTT you have the benefit of recycling the content and presenting it to the fans in new and engaging ways. Video highlights, in-depth analysis of the play, Q & A’s with players, interactive games & quizzes etc are different ways in which you can boost fan engagement. Such engaging content will contribute to the growth and loyalty of the fanbase.
Collecting Data to Expand ROI
An OTT dashboard will give real-time analytical data of consumer movement on your platform. This will help you understand their viewing preferences. Not to mention, the data acquired from these analytics can create opportunities to leverage newer content ideas that suit the viewers’ choice. Content owners can also utilize these insights to craft customized experiences specially for the bottom line viewers to keep them engaged on the platform.
An article by Vimeo reports that according to a study conducted by the Centre for the Digital Future at USC Anneberg (Los Angeles, USA) 63% of the people surveyed stated that they were interested in paying for an all-sports OTT channel. The most sought-after way to generate revenue from live streaming and OTT content is through monthly and annual subscriptions like the way Netflix and Hulu do it. But apart from that, there are several other revenue models you can choose from. Take a look at our ‘Video Monetization’ article here to understand the different ways in which you can monetize your content.
Adopting New Age Technology
Global audiences are growing increasingly hungry for quality video content. What OTT does is that it cuts out the middle-man and gives an enriching sporting experience straight to the viewer on their smartphones. The advancement of digital technology grants the potential to go beyond the traditional broadcast quality. New formats like 4K, HDR and AR become easier to deliver digitally than traditional cable or satellite TV. Constant reinvention of the viewing experience will make you a fan favourite. And if audience spending trends are to go by, they are willing to pay premium for an enhanced viewing experience.
Strengthen Sports Streaming with Social Media
OTT enables you with novel opportunities to engage your social media fanbase. France TV Sports does this well. With their service Wildmoka, they extract and publish highlights from live TV to social networks such as Twitter, Instagram, Facebook and Youtube. (source is here). This serves as a great way to rekindle interaction between audio-visual content and its users.
So wait no further! Enveu is here to help you get cracking with your OTT requirements. Get in touch right away.